On November 1. 2018, Kris Lehman established an interior decorating business, Modern Designs. During the month, Kris completed the following transactions related to the business: Nov
1
1
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8
Kris transferred cash from a personal bank account to an account to be used for the business in
exchange for common stock, $30,000
Paid rent for period of November 1 to end of month, $4,000.
Purchased office equipment on account, $10,000
Purchased a truck for 543,000 paying 34,300 cash and giving a note payable for the remainder.
Purchased supplies for cash, 51,880.
Received cash for job completed, 58,000.
Paid annual premiums on property and casualty insurance, $2.400.
Recorded jobs completed on account and sent invoices to customers, 515,500
Received an invoice for truck expenses, to be paid in November, 51,250
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Enter the following transactions on Page 2 of the hvo-column journal
Noy
29 Paid utilities expense. $3.680
29 Paid miscellaneous expenses, 51,700
30 Received cash from customers on account. $10.500
30 Paid wages of employees, 54,750
30 Paid creditor a portion of the amount owed for equipment purchased on November 8, S4,000
30 Paid dividends. $1,800
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